Stock Earnings: Fraser & Neave Ltd net profit up 11.4%!

Fraser & Neave Ltd (F&N) Ltd may rise after its second quarter to March net profit, including exceptional items, rose 11.4 pct year-on-year to 62.78 mln sgd. The company said development property sales surged 179 pct to nearly 200 mln sgd during the quarter, driven by sales of units in cities including Singapore, Kuala Lumpur, Sydney and Shanghai. Sales from new launch properties in the quarter, including the 194-unit One Leicester in Singapore and the 397-unit Pano condominium project in Bangkok, also contributed. F&N closed 0.70 sgd lower at 21.30 last Thursday. Financial markets in Singapore were closed Friday for a public holiday.